MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
NOBLE MARINE METALS CO LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
29.04.1995 |
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Com. Reg. No.: |
29570, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Marine Equipment, Oilfield and Gas Equipment |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NOBLE MARINE METALS CO LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 29th April 1995
Commercial Registration Number : 29570, Abu Dhabi
Trade Licence Number : 1037606
Chamber Membership Number : 19165
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 40
Activities : Import and distribution of marine equipment, oilfield and gas equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Abdul Jabbar Abdul Sattar, Commercial Manager
COMPANY NAME
NOBLE MARINE METALS
CO LLC
ADDRESS
Registered & Physical Address
Building : ADNOC Building
Area : Mussafah Industrial Zone, M16
PO Box : 47563
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 5501126 / 5501131
Facsimile : (971-2) 5501128
Email : noble786@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
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Mohamed Ashraf Shah Al Ameed Indian Managing Director
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Sayed Rashid Saif Al Alawi Emirati Director
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Abdul Jabbar Abdul Sattar - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 29th
April 1995
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 29570, Abu
Dhabi
Trade Licence No. : 1037606
(Expires 05/04/2009)
Chamber Member No. : 19165
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
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Sayed Rashid Saif Al Alawi 51%
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Mohamed Ashraf Shah Al Ameed 49%
AFFILIATED COMPANIES
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Ajmal Steel & Tube
Abu Dhabi
United Arab Emirates
OPERATIONS
Activities: Engaged in the import and distribution of marine equipment, oilfield and gas equipment.
Import
Countries: China, India and
the United States of America
Operating Trend: Steady
Subject has a
workforce of 40 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh
16,200,000 UAE Dh
17,700,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Habib
Bank Ltd
Leewa Street
PO Box : 897
Abu Dhabi
Tel : (971-2) 330188
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s operating
history or the manner in which payments are fulfilled. As such the company is
considered to be a fair trade risk and the above credit figure is within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.74 |
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UK Pound |
1 |
Rs.74.37 |
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Euro |
1 |
Rs.62.78 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)